I believe this is a bear trap. The whale dump such volumes so that people sell in panic. Then the whale buy it back with a 10% drop from the initial dump. Since most bears would be waiting a 30-50% drop, their shorts are squeezed.
The whale dont even have to take the money out of the exchange.
that made sense on the initial dump from $9100-$8000. but now we're seeing lower highs + lower lows and we're falling below long term moving averages. + signs of exhaustion being that the $9100 spike only lasted a few moments.....no fomo left.
an accumulating whale would be playing with fire by pushing the market down when it already seems exhausted.